Freshbooks stands out as accounting software for the business who has no interest in accounting. It makes accounting easy. Although it lacks some transitional small business accounting software features that accounts love. It is very easy to use.
The most powerful feature of Freshbooks is its Accounts Receivable features. It is easy to create simple invoices that look professional and can be paid easily. You can setup credit card payments in order to get paid faster and not have to record checks. You can even view when the invoice was viewed by your client so you can make sure they received it. If none of that works, the system will even send out late payment reminders to your clients. Freshbooks is built around collecting money and making it easy for the business owner.
Freshbooks also handles payables in a very simple way. Leveraging the smartphone, they allow the user to take picture of receipts and classify them into the software. All expenses can be associated to a customer for reimbursement. The system can also pull transactions directly from the bank account so there is less data entry involved and it makes the dreaded bank rec a heck of a lot easier.
The last feature that is really useful for the business professional who bills by the hour is the ability to track your time. Not only can you track your own time and bill it, you can see how the rest of you team is spending their time on the various projects your organization is working on.
Freshbooks is a feature rich bookkeeping tool that is powerful for the business owner who does not have the time to maintain a full small business accounting software. It also integrates with more reporting rich accounting software like Quickbooks and Xero. This is an excellent piece of software to use in conjunction with a more traditional software managed by an accounting professional.